Acuitas Investments LLC Sells 136,117 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Acuitas Investments LLC lowered its stake in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 58.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,862 shares of the financial services provider's stock after selling 136,117 shares during the quarter. Acuitas Investments LLC owned approximately 0.13% of Alexander & Baldwin worth $1,861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Federated Hermes Inc. grew its stake in Alexander & Baldwin by 88.5% during the 4th quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 1,240 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Alexander & Baldwin by 46.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 1,114 shares in the last quarter. Everett Harris & Co. CA purchased a new position in Alexander & Baldwin during the 4th quarter valued at about $195,000. Duality Advisers LP purchased a new position in Alexander & Baldwin during the 4th quarter valued at about $199,000. Finally, Cerity Partners LLC purchased a new position in Alexander & Baldwin during the 4th quarter valued at about $211,000. Hedge funds and other institutional investors own 91.29% of the company's stock.

Alexander & Baldwin Stock Up 2.3 %

Shares of NYSE ALEX traded up $0.37 during trading hours on Friday, hitting $16.20. The stock had a trading volume of 328,269 shares, compared to its average volume of 314,376. The company has a market capitalization of $1.18 billion, a P/E ratio of 40.50 and a beta of 1.21. The firm's 50-day moving average price is $16.35 and its two-hundred day moving average price is $16.97. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $19.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.43 and a current ratio of 0.43.

Alexander & Baldwin Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 14th will be paid a $0.222 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.89 annualized dividend and a dividend yield of 5.48%. Alexander & Baldwin's payout ratio is 222.50%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler lowered their target price on Alexander & Baldwin from $19.00 to $17.00 and set a "neutral" rating on the stock in a research note on Thursday, March 14th. TheStreet cut Alexander & Baldwin from a "b-" rating to a "c+" rating in a research note on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Alexander & Baldwin currently has a consensus rating of "Hold" and a consensus target price of $18.50.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc NYSE: ALEX (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.